In 2024, the French residential real estate market went through a period of adjustment and stabilization after the previous price increases. According to the National Institute for Statistics and Economic Research (INSEE), in the third quarter of 2024, secondary housing prices fell by 3.96% year-on-year, the fifth consecutive quarter of decline.
Key trends in 2024:
Declining prices: In the Ile-de-France region, including Paris, secondary housing prices fell by 5.24% year-on-year, reaching €6,150 per square meter. In Paris itself, the decline was 5.56%, with an average price of €9,520 per square meter.
Decrease in investment activity: Investments in rental property declined significantly due to rising interest rates and tightening credit conditions.
Shortage of rental housing: There was an acute shortage of affordable rental housing in major cities, especially in Paris, which made it difficult for students and young professionals to find accommodation.
Forecast for 2025:
Experts expect the French residential real estate market to continue to stabilize in 2025. The National Real Estate Federation of France (FNAIM) predicts that prices will stabilize in the first half of 2025, and in the second half of the year, growth of 1% year-on-year will begin.
However, the market recovery will depend on lower mortgage rates and improved financing conditions, which will increase purchasing power. Geopolitical events and domestic housing policy will also play an important role.
Thus, 2024 was a watershed year for the French real estate market, marked by significant price adjustments, but also by the first signs of stabilization. Industry professionals expect a gradual recovery, which will depend on macroeconomic factors and government policy.
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Insurance company “Knyazha Life Vienne Insurance Group” (Kiev) last year collected UAH 60.890 million of insurance payments, which is 5.39% less than in the previous year, reports RA “Standard-Rating” on the website in the information on confirmation of the financial stability rating/credit rating of the company at the level of “uaAA+” at the end of the reporting period.
It is noted that the volume of insurance payments and indemnities made by the company for 2024 amounts to UAH 27,383 mln, that is by 20,29% less than the volume of payments for 2023. Thus, the level of payments of the insurer has decreased by 8,41 percentage points (p.p.), to 44,97%.
Last year the company’s activity was profitable: it received UAH 29,561 mln of net profit
Assets as of January 1, 2025 increased by 14.01%, to UAH 909.017 mln, equity capital – by 11.40%, to UAH 306.321 mln, liabilities increased by 15.38%, to UAH 602.696 mln, cash and cash equivalents – by 71.57%, to UAH 4.296 mln, government bonds and deposits in banks as part of current financial investments – by 13.92%, to UAH 879.676 mln.
RA emphasizes that as of the beginning of 2025 shareholders’ equity covered 50,83% of the insurer’s liabilities, and 0,71% of its liabilities were secured by cash and cash equivalents.
At the same time, as of January 1, 2025 the insurer has formed a portfolio of current financial investments in the amount of UAH 879,676 mln, including bank deposits and investments in government bonds. Thus, as of the beginning of 2025, liquid assets (cash and cash equivalents, bank deposits and government bonds) exceeded the company’s liabilities in 1,47 times.
It is noted that the high level of external support of the company is provided by its shareholder – an international insurance group headquartered in Austria Vienna Insurance Group Wiener Städtische Versicherung AG., which is represented by 50 companies in 30 countries and is the leader of the insurance market in Central and Eastern Europe.
In the framework of President Shavkat Mirziyoyev’s state visit to Paris, the Foundation for the Development of Culture and Art of Uzbekistan and the French Ministry of Culture signed a number of agreements on cooperation in the field of culture.
The documents were signed by the head of the Foundation, Gayane Umerova, and the French Minister of Culture, Rachida Dati.
One of the agreements is a declaration on cooperation between the cultural institutions of the two countries. It envisages the development of academic exchanges between the Alfred Cortot School of Music in Paris and the State Conservatory of Uzbekistan, as well as support for joint film projects.
An agreement was also signed to hold the exhibition “Uzbekistan: Avant-Garde in the Desert” in France and an international conference on museums and artificial intelligence in Samarkand as part of the 43rd session of the UNESCO General Conference.
The Italian Agency for Cooperation Development (AICS) has announced a grant competition for land clearance from mines and other remnants of war in the frontline regions with a total budget of EUR 6 million, with the amount of one project not exceeding EUR 1.8 million.
As reported on the website of the Ministry of Economy of Ukraine on Thursday, the projects should be aimed at non-technical and/or technical survey of the territories, and include an element of informing the population about mine threats. Kharkiv region, where 55 out of 56 communities have been affected by the war, has been chosen as a priority for the implementation of projects within the competition.
“This is the first time that one of the partner countries has allocated money directly for the clearance of our land, involving Ukrainian mine action operators in this process. I believe that such cooperation will allow us to quickly return to use and identify contaminated areas and strengthen cooperation not only at the level of institutions, but also between organizations and companies of our countries that strive to make Ukrainian land safer,” said Yulia Svyrydenko, First Vice Prime Minister of Ukraine and Minister of Economy of Ukraine.
Only non-profit organizations can apply for the competition, but they can also engage commercial mine action operators as partners in project implementation.
Applications will be accepted until May 11 this year. The total planned duration of the projects is up to 15 months.
The session of the International Olympic Committee (IOC) has unanimously voted to include boxing in the program of the 2028 Olympic Games to be held in the United States.
“Thank you for approving the return of boxing to the Olympic program. We look forward to a great Olympic boxing tournament,” IOC President Thomas Bach said after the vote.
Bach noted that the competition will be organized by the World Boxing Federation. World Boxing was founded in 2023 after the severance of relations between the IOC and the International Boxing Association (IBA). The 2028 Summer Olympics will be held in Los Angeles from July 14 to 30.
Heating boiler manufacturer Mayak Plant JSC (Mayak JSC, Zmiiv, Kharkiv region) plans to pay dividends to shareholders in the amount of UAH 1,023 thousand per share (par value UAH 1 thousand) for 2024.
According to the draft resolutions of the company’s general meeting of shareholders scheduled for April 21, dividends are to be paid between July 25 and October 25 this year.
The authorized capital of the company is UAH 210 thousand, divided into 210 shares. Thus, the total amount of dividends will be UAH 214.83 thousand.
According to the company, in 2024, its net profit amounted to UAH 0.215 million (UAH 4.61 million a year earlier), and retained earnings amounted to UAH 16.37 million. Net income per share amounted to UAH 1.024 per share (in 2023 – UAH 21.96 thousand).
Last year, the company’s assets increased by 10% to UAH 65.64 million, in particular, total receivables increased by 3.6% to UAH 10.1 million, inventories decreased by 26% to UAH 21.6 million, while cash and cash equivalents increased 2.5 times to UAH 24.5 million.
Over the year, Mayak JSC increased its current liabilities by 7.4% to almost UAH 6 million, while long-term liabilities more than quadrupled to UAH 7.4 million.
As reported, in 2023, the company paid dividends at the rate of UAH 2.195 thousand per share.
According to the National Securities and Stock Market Commission (NSSMC), as of the third quarter of 2024, 52.381% of the shares of Mayak Plant JSC are owned by CEO Oleksiy Mushtai, and 14.2857% each by Tetyana Samusenko and Zoya Garagata.
The Mayak plant was established in 1991 and produces household heating appliances under the Mayak brand.
According to Clarity-project, the company’s net income in 2024 decreased by 6% compared to 2023, to UAH 65.7 million.
